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BBVA Turns To Profit In Q1 - Quick Facts

BBVA Group (BBVA) reported that its first-quarter net attributable profit was 1.21 billion euros, compared to a loss of 1.79 billion euros in the prior year. The previous year result was impacted by the goodwill adjustment in the U.S. subsidiary and higher impairments and provisions.

Net attributable profit, excluding the results from discontinued operations, was 1.03 billion euros, a year-on-year growth of 139.4%.

Net interest income was 3.45 billion euros, down 14.2% from last year, due to the adverse interest rate scenario.

Net fees and commissions grew 0.8% year-over-year to 1.13 billion euros.

In BBVA plans to resume its dividend policy of a 35 to 40 percent payout in cash, once the restrictions from the European Central Bank are lifted.

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